"This is an accelerated placing which will close tomorrow so may even get an announcement at the opening of trading. This will already be sorted so we just need to see the price, which in an ideal world would be above today's closing price. It's happened on other shares and would send "a positive message.
I also think the placing will be oversubscribed. I do wonder what the new venture is - and Nige has pointed out interesting centrals snippets - progressing a number of processes .... Partnering is In progress so might be sooner than we think. Sitting at cash (more cash) so quite relaxed and happy to have II's on board ..no dilution when you are at cash!
Fat fingers - sorry ! I am glad they released after 16-30 so we have time to read analyse and digest it properly - especially as it is so comprehensive. I see it as good news on reflection .. Happy to be well on board !
I posted on another board recently on a placement comment that in the absence of senior debt ( which is nowadays secured on producing assets predominately ) placing sate part of the funding for growth facilities available.
They can of course be use for other more negative purposes too .
My take here is that . 1. Chariot will probably have an oversubscribed placing 2. The current cash Is allocated and also provides a buffer 3.. The opportunity to aquire potential asset has presented itself is strong enough to allow the business to confidently find it by way if placing .
Whilst some of the key directors are investing it is particularly interesting to see the size if investment from the non execs own vehicle £1million
In due course sounds like it should be something they should be hinting at more strongly by way Of PR letting it slip out steadily ;)
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